Asia-Pacific to Lead Global Tissue Engineering Market to Reach US$94 billion by 2022
Thursday 10 Sep 2015
Industry Experts has today released the new updated 2015 version of market research report on Tissue Engineering. As per the new report titles ‘Tissue Engineering: Technologies and Therapeutic Areas – A Global Market Overview‘, reveals that North America is expected to remain the largest market with US$43.5 billion in 2022 while Asia-Pacific is projected to be the fastest growing market with 2016-2022 CAGR of 26.5%.
Despite being in existence for about two decades, the field of tissue engineering can still be assumed to be a developing discipline involving basic and applied multidisciplinary biomedical research. This subject utilization of the principles and methods employed in engineering and life sciences, which are then combined with clinical expertise with a focus on developing biological tissue substitutes that enable in restoring, maintaining or enhancing the function of diseased or damaged human tissues. Researchers from a wide range of disciplines have collaborated in fostering the development of a host of exceptional inventions, state-of-the-art research tools and scientific techniques that are finding diverse application in this as yet nascent area. While the initial clinically relevant efforts in tissue engineering were focused on generating bioengineered skin substitutes for severely burned patients, the past two decades have witnessed considerable evolution in this field, with the ideas and applications of these principles being employed for an extensive array of tissues and organs. Skin, cartilage, bone, blood vessels, pancreas, heart valves, breast, nerves, trachea, bowel, kidney, lung and liver comprise some of the distinctive instances of areas where tissue engineered substitutes have either been employed or are under investigation.
As can be expected with any emerging area of science, the initial years for tissue engineering were full of enthusiasm and offered the promise of significant achievements, which, though, were followed by periods of shortcomings when translated into clinical practice. The practical performance of the clinically implanted cultured tissue surrogates fell far short of expectations and threw up a number of challenges. Despite this, endeavors remained focused on further enhancements and led to the development of innovative solutions for overcoming these problems. For instance, new alternatives for cell and tissue delivery were created even in the apparently simple process of tissue engineering substitutes, such as epithelial sheet grafts without necessary three-dimensional vascular (micro) networks by comprehending that in place of transplanting readymade multilayer epithelial sheets, delivering single cell as a suspension in a biological carrier offered better performance and ease of handling.
The knowledge obtained from tissue engineering experiments has found application in a range of medical therapies, such as direct organ or tissue replacement. Studies on material interactions under laboratory conditions have resulted in improving medical devices. For example, the modification of vascular stents has led to their performing better in humans, thereby contributing to a growing number of procedures associated with atherosclerosis or coronary artery disease. The seeding of cells onto tubular biopolymer scaffolds has resulted in generating vascular grafts with the help of smooth muscle cells and an inner lining produced by endothelial cells, constituting one instance capable of addressing huge clinical needs in the future.
Worldwide market for Tissue Engineering technologies explored in this study includes Cell Culture, Immunomodulation and Stem Cell. The report also focuses on therapeutic applications of tissue engineering comprising Cardiovascular, Dental/Oral Neurological, Oncology, Orthopedic, Skin/Integumentary and Others. The markets for the above mentioned technologies and therapeutic applications are analyzed in terms of USD. Global market for Tissue Engineering, estimated at US$23 billion in 2015, forecast to reach US$27.3 billion in 2015, and is further expected to register a CAGR of about 23% between 2016 and 2022 to touch a projected US$94.2 billion by 2022.
The study review, analyze and projects the tissue engineering market for global and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 5 independent countries across North America – The United States and Canada; and Europe – France, Germany and the United Kingdom.
This 279 pages market research report includes 113 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. The report profiles 31 key global players and 39 major players across North America – 28; Europe – 7; Asia-Pacific – 3; and Rest of World – 1. The research also provides the listing of the companies engaged in research and development and services of tissue engineering. The global list of companies covers addresses, contact numbers and the website addresses of 300 companies.
Hyderabad, India based Industry Experts is a multi industry focused business information provider.
For more details, please visit http://industry-experts.com/verticals/biotechnology/tissue-engineering-technologies-and-therapeutic-areas-a-global-market-overview